Tiles limited had the following balance sheet at the end of, Ask an Expert

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Tiles Limited had the following balance sheet at the end of operation for 2015 and 2016 respectively

TILES LTD as at Dec. 2015 as at Dec. 2016

Cash	24,000	Current Liabilities	30,000	Cash	87,000	Current Liabilities	30,000
Other Current assets	51,000	LT - Notes Payable	33,000	Other Current assets	51,000	LT - NotesPayable	39,000
Total current assets	75,000	Bonds	40,000	Total current assets	138,000	Bonds	42,000
Investments	40,000	Common Stock	150,000	Investments	20,000	Common Stock	170,000
Fixed assets (net)	125,000	Retained Earnings	49,000	Fixed assets (net)	107,000	Retained Earnings	76,000
Land	62,000		302,000	Land	92,000		357,000
	302,000				357,000

For the period ending 2016, Net Income, Interest and taxes were $42,000, $10,000 and $25,000 respectively.

Depreciation Expense was $18,000. Determine Tiles Ltd's FCF for 2016.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92640027

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